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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mount Clemens, Business Loans > Community Central Bank Mount Clemens Business Loans > Auto And Home Supply Stores Loan | ||||
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Raising Money in Howell, Michigan With SBA Loans
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Getting an SBA Loan for Automotive Parts and Accessories StoresLooking for SBA loans for automotive parts and accessories stores? An SBA loan may be just what you've been looking for. This $126,000 automotive parts and accessories stores loan was issued by a Michigan bank. Getting a small business loan in Howell, Michigan was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Central Bank, operating out of Mount Clemens, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender COMMUNITY CENTRAL BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 10/18/2001 Loan Approval Gross Amount $126,000 Loan Approval from the SBA Of the total $126,000 loan amount, the SBA guaranteed $107,100. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Community Central Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Realistic Debt Financing Options Where to Get an SBA Loan in Mount Clemens, Michigan
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